6 Things That Successful Franchisees Have in Common
The franchise business model is a great way to become your own boss, but by no means is it a get rich quick scheme. At Blue Moon Estate Sales, we have produced successful franchises across the country, and we’ve noticed a theme. Our most successful franchisees share some common practices:
They Have Enthusiasm
In today’s market, there are thousands of different franchise concepts to choose from. Having said that, it is extremely important to join a business that really speaks to you. You are entering into a long-term partnership, so picking a model that excites you is the most important part of the process. If you sign yourself up for a lifetime of boredom, you’ll fail before you even begin.
They Have the Means
When it comes down to it, one of the most important things in the equation is money. You need to able pay for your franchise location and support yourself during the first few months on the job. No new business is booming on day one. Because of this, it’s important to have some financial security during those early stages. This will grant you the ability to feel secure while focusing on your goals.
They Soak It All in
Being your own boss is probably why you wanted to join the franchise model in the first place, but when it comes to franchises, working for yourself doesn’t mean working by yourself. You have to come into things with an open heart and a mind like a sponge. Your franchisor knows the business inside and out. They have made the mistakes and have developed the best practices. Your job is to learn.
The better student you are, the fewer problems you will have throughout the beginning phases of your business. During training, you should actively, take notes and participate in discussions. Be vulnerable and step out of your comfort zone. The experts are there to support you every step of the way.
Once school is out, the real test begins, and success is measured in production rather than grades. Our most successful owners put what we’ve taught them into practice, and really experience every part of their business. Their comprehensive understanding grants them the ability to effectively pass important knowledge onto their team members, thus making them all the more successful.
They Copy and Paste Everything
The power of franchising comes from branding and consistency in a product or service. Every new franchisee needs to understand that they represent a collective brand and not just a singular location. It is imperative to adhere to the systems that the franchisor has put in place to continue to solidify the brand. Every system, procedure and tool has a purpose and been proven in the field.
Going rogue in any way is sure to cause headaches for both you and your franchisor. To climb the ladder and become a top producer means dotting the i’s, crossing the t’s and following the business model to the best of your abilities. The plan makes the business, after all.
They Ask for Help
New owners are taught how to run their businesses successfully, but sometimes situations arise that weren’t covered in training. When this happens, our most successful franchisees get on the phone and ask for help. It is the franchisor's job to use their expertise to help guide their franchisees through challenges. That support is a huge benefit, and top producers know when to call on it. Getting into the weeds alone or with other young franchisees will leave you tired and frustrated.
They Work Hard
As a franchisee, you are provided with a solid business plan, proven processes and expert support, but, as we mentioned previously, this is not a get rich quick situation. Being the boss is a lot of work, plain and simple. If you want to be one of the top producers in a company, you have to earn it. The recipe for success involves heaps of early mornings and late nights, gallons of elbow grease and good old fashioned sweat.
That's all there is to it. You bought into the business model. Follow it. Learn. Practice. Work hard. Ask for help. Have fun. At the end of the day, reap the benefits. You will have earned them.